33BDue diligence checklist to be made available

33B Due diligence checklist to be made available

(1) A vendor offering land for sale that is vacant residential land or land on which there is a residence must ensure that a due diligence checklist is made available to any prospective purchaser from the time the land is offered for sale.

(2) A vendor must ensure that the due diligence checklist is in the form approved by the Director of Consumer Affairs Victoria.

(3) Subsections (1) and (2) do not apply to a vendor if the vendor has engaged a person who is a licensed estate agent to act for the vendor.

(4) A person who is a licensed estate agent and acting for a vendor, offering land for sale that is vacant residential land or land on which there
is a residence, must ensure that a due diligence checklist is made available to any prospective purchaser from the time the land is offered for sale.

(5) A person who is a licensed estate agent and acting for a vendor, must ensure that the due diligence checklist is in the form approved by the Director of Consumer Affairs Victoria.

(6) For the purposes of this section, a due diligence checklist is made available if—

(a) copies of the due diligence checklist are on display or offered to prospective purchasers at any inspection held of the land; and

(b) any Internet site maintained by the vendor and any person acting as the licensed estate agent of the vendor where the land is offered for sale allows access to a copy of the due diligence checklist either directly or by linking to another Internet site where a copy may be obtained.

S. 33C inserted by No. 33/2014 s. 5.